Recent news releases on our company website show how we’ve been busy with important activity at two project locations. In recent weeks, we’ve expanded our land package at Kilgore and began an exploration program at Oakley. Below are details for both worth-noting news pieces. In addition, if you’d like to discuss more on this in person or learn about it from our CEO, Craig Lindsay, note that he will be presenting at the Swiss Mining Institute conference on June 21, 2017 in Zurich and June 22, 2017 in Geneva. Presentations will take place at 09:20 local time on both days.
We Expand the Land Package at Kilgore
Earlier this month we officially enlarged our land position at our Kilgore Gold Project through the staking of 52 federal lode-mining claims that are adjacent to and interior to our current land holdings.These newly acquired mining claims increase the land holdings of Kilgore to 9.080 acres (36.7 km2). The acquisition of these strategic mining leases gives Otis a 100% ownership interest in the entire land package, which has no underlying royalties or any other encumbrances.
These new mining claims cover and secure a 300-metre by 180-metre structural corridor on the border of our current land holdings where our latest magnetic survey and field mapping identified a silica-flooded breccia and an altered sulphide stockwork. This trend of mineralization is interpreted as being related to a radial caldera structure. Also, we’ve located several claims to close the small interior fractions with its existing claim group. We continue to review all opportunities to expand our Kilgore land position as a result of the continuing regional exploration program efforts.
To learn more about or review the Kilgore Gold Project, read these articles >
Exploration Program at Oakley Commences
We are pleased to announce the commencement of field work at the Oakley Project Cassia County, Idaho. The phase one program consists of geologic mapping and surface sampling at Matrix Creek, an emerging exploration target at Oakley. Prior Otis field work at Matrix Creek identified a detachment-related silver-gold system on the west flank of the Albion metamorphic core complex believed to be several miles long. In 2015, 14 rock-chip samples collected and assayed from a large, prominent outcrop, produced an average of 70.4 g/t Ag and 0.55 g/t Au contained within a black matrix breccia believed to be part of a large mineralized detachment system. Preliminary 48-hour bottle-roll results performed by ALS Chemex Labs in Vancouver, B.C., suggest that the gold is up to 82% recoverable and that the silver is up to 93% recoverable.
The current program consists of 1,350 soil and rock-chip samples which are being collected on a 200 metre by 25 metre grid in addition to approximately 40 stream sediment samples. We plan to use this information to develop a first phase drill program at Matrix Creek. Additionally, we are developing a plan to conduct a broader geophysical program to help better define exploration targets at Blue Hill Creek, Matrix Creek and Cold Creek, and potentially new targets that may require the expansion of the Company’s land position. Results of the mapping and sampling program will be released shortly after the program has been completed.
To learn more about or review the Oakley Project, please visit our website here >